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Church Pension Fund

PRI reporting framework 2018

You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions » Process

Process

LEA 16. Typical approach to (proxy) voting decisions

16.1. Indicate how you typically make your (proxy) voting decisions.

Approach

Based on

16.2. Provide an overview of how you ensure your voting policy is adhered to, giving details of your approach when exceptions to the policy are made (if applicable).

For companies proposing to increase board remuneration by more than 10 % in one year, we request a written justification in advance of the annual general meeting. If this justification would not be given to us, we would ask for a justification again at the annual general meeting. The final action would be to vote against the proposal without justifications. There were five requests for written justification in 2017, with satisfactory replies.

16.3. Additional information.[Optional]

We participate in the AGMs in co-operation with our two external asset managers for Finnish equities. We discuss the agenda and possible voting situations with our managers in advance of the meeting. The Pension Fund also drafts separate guidelines for its annual meeting representatives.


LEA 17. Percentage of voting recommendations reviewed (Not Applicable)


LEA 18. Confirmation of votes

New selection options have been added to this indicator. Please review your prefilled responses carefully.

18.1. Describe your involvement in any projects to improve the voting trail and/or to obtain vote confirmation .

          Not applicable.
        

18.2. Additional information. [OPTIONAL]

          
        

LEA 19. Securities lending programme

New selection options have been added to this indicator. Please review your prefilled responses carefully.

19.1. Indicate if your organisation has a securities lending programme.

19.2. Describe why your organisation does not lend securities?

It is not part of the investment process at the Church Pension Fund. 

19.4. Additional information.

          
        

LEA 20. Informing companies of the rationale of abstaining/voting against management

New selection options have been added to this indicator. Please review your prefilled responses carefully.

20.1. Indicate whether you or the service providers acting on your behalf raise any concerns with companies ahead of voting

20.2. Indicate whether you and/or the service provider(s) acting on your behalf, communicate the rationale to companies, when , you abstain or vote against management recommendations.

20.3. Additional information. [Optional]

Voting situations are rather uncommon in Finland. If this was the case, however, our investment staff or external asset manager would be in dialogue with the company, preferably before the AGM.


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